The financial markets run on data and after30 years of FIX messaging, trust in that data is under pressure.
91% of firms report fragmented systems.70% link that fragmentation to compliance risk.
In this episode of RegCast, PJ Di Giammarino sits down with Jim Kaye, Executive Director of the FIX Trading Community, to discuss how AI, open standards, and smarter governance can FIX trust at the source.
Learn how new collaboration in 2026 between ISO, FIX, CDM, and DRR could create the first truly AI-ready market infrastructure just in time for new regulatory demands to get it right.
Download our latest FREE MiFIR research report: https://regrisksolutions.com/intelligence/document/mastering-mifir-build-one-runbook-to-bridge-the-transparency-chasm/
Register for RegTech 2026 conference March 26, London https://regtechconference.co.uk/
Episode 5: MiFIR Divergence 2026: The Race to Rebuild Reporting Control
Europe’s reporting machine processes 15 billion trades a year. In October 2025, ESMA froze 115 Level-2 acts while the UK FCA pressed ahead with Digital Regulatory Reporting and new MiFIR standards for 2026.
The result: two rulebooks, two control philosophies — and billions in added cost.
In this RegCast episode, PJ Di Giammarino is joined by Dawd Haque (Deutsche Bank, Chair of the Bank of England and FCA’s Data Standards Committee) and Grant Haley (First Derivative, an EPAM company) to explain how firms can build once and prove everywhere. They discuss:
✅ Why data quality is now a capital variable.
✅ How vendor fragility threatens market resilience.
✅ The semantic “rulebook to runbook” approach.
📘 Download the FREE report Mastering MiFIRDivergence → https://regrisksolutions.com/intelligence/document/mastering-mifir-build-one-runbook-to-bridge-the-transparency-chasm/
🎟️ Register for RegTech 2026 London → https://regtechconference.co.uk/
🎧 Subscribe to RegCast for new episodes
#MiFIR #RegTech #FinancialServices#DataQuality #OperationalResilience #CapitalRisk #BuildOnceProveEverywhere
91% fragmented. 70% report compliance failures. As Connectivity in the Age of AI reveals, the buy side’s wiring is broken, and AI is making the cracks impossible to ignore.
Execution economics are collapsing, clients demand transparency, and supervisors are embedding ICT and data risk directly into Pillar 2 capital. In 2026, that means a 0.5% surcharge — wiping out 10 to 15% of ROE — is no longer theoretical but the likely outcome for firms that fail to act.
This episode brings PJ Di Giammarino, CEO of RegRisk Legal Solutions, together with Rebecca Healey, Chair of the FIX Trading Community’s AI Working Group, to unpack why AI has forced execution into the boardroom — and how standards like FIX, CDM, and DRR-style logic can turn compliance from a capital penalty into competitive advantage.
👉 Listen now. Q4 2025 is the last budget window before AI in trading becomes the next capital test.
Episode 3: Building for Control — MiFID III, DRR, and the Architecture of Trust
On 23 July 2025, the FCA issued its second major warning in 180 days. Market Watch 82 makes it clear: firms must fix the quality of their transaction reporting data or face escalating consequences.
In this episode of RegCast, PJ Di Giammarino is joined by Dawd Haque (Deutsche Bank, Chair of the Bank of England and FCA’s Data Standards Committee) and Grant Haley (First Derivative) to tackle the hard truths behind today's transaction reporting, Digital Regulatory Reporting (DRR) and what machine-readable compliance really demands.
📌 What’s inside:
✔️ Why machine-readable reporting is now expected
✔️ How DRR and the Common Domain Model (CDM) reshape control frameworks
✔️ What firms need to build now to meet 2027 deadlines
✔️ How to reduce execution risk and avoid capital impact under the ECB’s SREP
This is no longer just a tech or compliance issue. It is about rebuilding trust in regulatory reporting from the ground up.
#MiFIDIII #MarketWatch82 #TransactionReporting #DRR #CDM #DataQuality #RegCast #Compliance #SREP #PillarII #FCA #ESMA #RegTech #FinancialServices #ArchitectureOfTrust
MiFID III Reset: Why Transaction Reporting is Being RethoughtReporting now affects your capital. Are you sure your data looks 'good enough'?In this RegCast Short, PJ Di Giammarino explores why transaction reporting is under pressure and what MiFID III’s pause on RTS 22 and RTS 23 really signals.▶️ What regulators really want from reporting▶️ Why legacy infrastructure is no longer fit for purpose▶️ How to prepare for AI-ready, explainable systems that meet future expectationsWe are finally having an adult conversation about the why, how, and when of regulatory data.
MiFID III Reset: Why Transaction Reporting is Being RethoughtIf we had known it would end up here, would we have built it like this? In this RegCast Short, PJ Di Giammarino explores why transaction reporting is under pressure and what MiFID III’s pause on RTS 22 and RTS 23 really signals.
▶️ What regulators really want from reporting
▶️ Why legacy infrastructure is no longer fit for purpose
▶️ How to prepare for AI-ready, explainable systems that meet future expectations
We are finally having an adult conversation about the why, how, and when of regulatory data.
Listen to the full episode:
Spotify: https://open.spotify.com/episode/6SwznBjNkliwFUIdvqbA7b?si=350c6e64d3304622
MiFID III is no longer just a compliance update. It’s a regulatory reset with capital and architecture implications. In this episode, PJ Di Giammarino speaks with Dawd Haque and Grant Haley about ESMA’s pause on RTS 22 & 23 for transaction reporting and reference data, the rise of DRR, and how poor data quality is now priced into regulatory risk. Learn why firms must rethink reporting strategy, prepare for UK-EU divergence, and invest in machine-readable controls. Listen for practical steps to stay ahead of the 2026 reporting shift.
RegCast brings you behind the scenes of global financial regulation. Hosted by PJ Di Giammarino, CEO of RegRisk Legal Solutions, it features expert voices from regulators, firms and suppliers. From DORA to AI, RegCast explores how leaders are turning compliance into strategic advantage. Get ahead of the curve and gain insight before the market takes notice.
RegCast returns with Season 6 and a bold new mission.
In this special launch episode, host Corrina Stokes sits down with PJ Di Giammarino, Founder and CEO of RegRisk Legal Solutions — the evolution of JWG Group. Together, they unpack why 2025 marks a regulatory tipping point and what firms must do to stay ahead.
💡 In this episode
• Why JWG became RegRisk Legal Solutions
• What Agentic Compliance-as-a-Service means in action
• How digital integrity now drives capital cost and executive liability
• What sets RegRisk apart from traditional GRC tools and consultancies
• What to expect this season on RegCast
With DORA, BCBS 239, MiFID III, and the EU AI Act coming into force, firms without end-to-end operational control face higher capital buffers, enforcement risk, and reputational damage.
This season, we decode the data, AI, and regulatory challenges transforming financial services and explore what it takes to prove compliance in a world that demands control by design.
🔗 Learn more at www.regrisksolutions.com
#RegCast #RegRisk #DigitalIntegrity #OperationalResilience #AICompliance #DORA #BCBS239 #MiFIDIII #EUAIAct #GRC #FinancialServices #NonFinancialRisk
With DORA’s deadline fast approaching, financial services and their tech partners are in a countdown to meet Europe’s most rigorous resilience standards.
In “Deadline DORA,” we explore how global technology suppliers are preparing to shoulder DORA’s compliance load, redefining the supply chain into a resilient partnership model that meets strict oversight and transparency demands.
Monica Sasso, Global Financial Services Digital Transformation Lead at Red Hat and Anne Leslie, Cloud Risk and Controls Leader for EMEA at IBM Cloud join us to break down the immediate challenges and long-term shifts in these partnerships, we’ll tackle the critical questions: How will tech suppliers adapt to support financial institutions’ evolving resilience goals? And can they maintain innovation while meeting stringent DORA requirements?
Tune in to hear industry experts share insights on navigating this high-stakes regulatory landscape just weeks before go-live.
Discover how DORA differentiates itself from other directives and what it means for regulators, firms and suppliers alike in JWG’s research:
RegCast Season 5 offers a deep dive into the evolving landscape of risk management as dictated by regulatory authorities.
Failing to address your organization’s digital resilience before the deadline could result in serious regulatory fines, reputational risk, supplier conflicts and even criminal liability. But regulatory regimes, norms and enforcement varies and CEOs may rightfully ask about the potential consequences and the seriousness of the regulators’ intent.
In this episode, Gavin Stewart, a former UK regulator, Alex Dorfman, technology risk expert and PJ Di Giammarino, CEO and founder of JWG, discuss the drivers behind DORA, PS21/2, enforcement trends, and proactive compliance strategies for this new, digital regulation.
Discover how DORA differentiates itself from other directives and what it means for regulators, firms and suppliers alike in JWG’s research:
Thank you for liking our research so that others can enjoy it as well.
In the wake of significant IT failures and looming regulatory deadlines, operational resilience has moved to the forefront of boardroom agendas. RegCast Season 5 offers a deep dive into the evolving landscape of risk management as dictated by regulatory authorities.
Failing to address your organization’s digital resilience before the deadline could result in serious regulatory fines, reputational risk, supplier conflicts and even criminal liability. But OpRes is a serious ask that cost billions and it means better ‘ships’, better direction, and better deployment of RegTech to overcome 40 years of legacy attitudes towards technology.
In this episode Chris Owers, Global Head of Regulatory Compliance, First Derivative and Sajjad Khan, an AI and Technology Infrastructure expert join PJ Di Giammarino, CEO and founder of JWG, to discuss the implications of the EU’s Digital Operational Resilience Act (DORA) for technology infrastructures, the boards that oversee them and the technology providers that supply them. You can find all the research on https://jwg-it.eu/.
In the wake of significant IT failures and looming regulatory deadlines, operational resilience has moved to the forefront of boardroom agendas.
RegCast Season 5 offers a deep dive into the evolving landscape of risk management as dictated by regulatory authorities.
In this episode, Sam Tyfield, a financial services lawyer, and PJ Di Giammarino, CEO and founder of JWG, discuss the implications of the EU’s Digital Operational Resilience Act (DORA) for financial entities with Laura, Clatworthy, Partner, Dispute Resolution at Memery Crystal - Rosenblatt.
Join us as we unpack the big opportunities DORA presents for kitemarking DeFi infrastructures and cutting costs of TradFi compliance.
See JWG’s research: ‘Winning the OpRes Marathon’ here ‘Taming the DORA dragon’ here for background RegTech Newsletter . The OpRes Marathon: winning with RegTech here
In the wake of significant IT failures and looming regulatory deadlines, operational resilience has moved to the forefront of boardroom agendas. RegCast Season 5 offers a deep dive into the evolving landscape of risk management as dictated by regulatory authorities. This season is a must-listen for financial industry professionals who need to understand the shifting dynamics of 'business as usual' under new compliance pressures.
Join us as we unpack the expectations regulators have for managing technological risks that threaten systemic stability. Our conversations with industry leaders provide actionable insights to help you navigate these pivotal changes.
Kicking off the season, Sam Tyfield, a financial services lawyer, and PJ Di Giammarino, CEO and founder of JWG, discuss the implications of the EU’s Digital Operational Resilience Act (DORA) for financial entities. Discover how DORA differentiates itself from other directives and what it means for regulators and suppliers alike. See JWG’s articles on ‘Winning the OpRes Marathon’ here and ‘Taming the DORA dragon’ here for background.
Stay ahead of the curve—tune in to RegCast to ensure your organization is prepared for these transformative regulatory demands.
As financial institutions face increasing pressure from regulators and customers to ensure transparency and ethical behavior, the importance of surveillance RegTech has grown exponentially. But what drives the adoption of better technology? Is it fear of regulatory fines, greed for profit, or a genuine focus on customer safety? Episode 6 of RegCast Season 4 explores the 2024 surveillance forces in the lead-up to JWG’s highly anticipated conference in London on February 7th. Firms and regulators register FREE and find materials here.
Regulators are doubling down on data quality and post trade reporting as 8 countries are switching to new derivatives reports this year. Firms are mutualising efforts and leveraging the open source Common Domain Model to de-risk the implementation and leverage “common glue” to better understand their risks. This is a big step up for firms amongst a large amount of change. Will firms adapt their technology platforms to unlock the power of data, AI to get more insight from their business flows? Join JWG and Pierre Kovacs, a trade reporting guru from Endava as they talk through the key issues from the latest RegRadar for data, AI and regulatory reporting in advance of JWG’s annual conference on 7 February in London – firms and regulators register FREE and find materials here.
AI is in the policy makers’ sights and European regulators took a big step towards implementing tough new Digital Operational Resilience standards this month. It's not just one technology risk that regulators are keeping an eye on, there are dozens of new rules that apply to tens of thousands financial institutions and their suppliers. Everything from Cloud to Cyber and Quantum is on the RegRadar in this RegCast. The panel decodes the impact of the rules that will shake the culture, operating model and accountability for technology to its core. Listen in as we set the scene for our annual RegTech conference on 7 February in London! Please find our latest research and join us here: https://regtechconference.co.uk/contact-us/
Rethinking ESG regulatory reporting becomes a critical board-level challenge. Regulatory standard setters have been actively shaping the landscape and defining what “good green data looks like”. Implementation of new XBRL templates kicks off in 2024 and has pushed ESG data plumbing to the top of the open source standards list as financial institutions search for a way to create an auditable path between their data sources and the regulatory reports for the EU's Corporate Sustainability Reporting Directive (CSRD). Experts from Solidatus, Thomson Reuters Regulatory Intelligence and XBRL join JWG to discuss the key issues which will shape our 2024 priorities in advance of our annual conference on 7 February in London – find research on this topic and register here.
ESG and climate standard setters have been busy. Boards face an alphabet soup of voluntary, industry, regulatory bodies which are defining how ‘green’ they are. New capabilities are required in 2024 to manage the deltas between the languages being used to describe ‘what green looks like’ to an auditable standard. Large firms caught by EU regimes are facing very tight reporting Implementation deadlines that require looking at operations, risk and information management in fundamentally different ways. Kevin Bourne, former trader and ESG data guru, primes us for what lies ahead and teases out the ‘so what’ for regulated firms in advance of our annual conference on 7 February in London – register here.
It has been 3 years since we embarked on the RegCast journey and 48 episodes later we take stock of the progress we have made against our podcast goals. PJ Di Giammarino, CEO and founder of the global think-tank, JWG and Corrina Stokes, JWG COO discuss what we’ve learnt on the journey so far, what’s important in 2024 and how that will shape our 2024 RegCast priorities in advance of our annual conference on 7 February in London – register here.